Hesai Group (NASDAQ:HSAI) Sees Large Growth in Short Interest

Hesai Group (NASDAQ:HSAI) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 3,100,000 shares, a growth of 11.9% from the October 15th total of 2,770,000 shares. Approximately 3.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 569,600 shares, the days-to-cover ratio is currently 5.4 days.

Hesai Group Price Performance

Shares of Hesai Group stock traded up $0.15 during midday trading on Monday, hitting $4.23. 221,021 shares of the company were exchanged, compared to its average volume of 630,470. The firm has a 50 day simple moving average of $4.51 and a 200-day simple moving average of $4.49. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.16 and a quick ratio of 2.68. Hesai Group has a 52 week low of $3.28 and a 52 week high of $11.20. The firm has a market cap of $537.33 million, a P/E ratio of -8.29 and a beta of 1.36.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings data on Monday, August 19th. The company reported ($0.05) earnings per share (EPS) for the quarter. Hesai Group had a negative net margin of 25.30% and a negative return on equity of 9.22%. The business had revenue of $63.14 million during the quarter. Research analysts forecast that Hesai Group will post -0.35 earnings per share for the current year.

Hedge Funds Weigh In On Hesai Group

Several institutional investors have recently bought and sold shares of the business. Main Management ETF Advisors LLC bought a new stake in shares of Hesai Group during the third quarter worth $924,000. Susquehanna Fundamental Investments LLC grew its stake in Hesai Group by 107.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock valued at $605,000 after acquiring an additional 74,888 shares during the period. Renaissance Technologies LLC grew its stake in Hesai Group by 44.1% in the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock valued at $208,000 after acquiring an additional 15,200 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Hesai Group by 47.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock valued at $138,000 after acquiring an additional 9,500 shares during the period. Finally, Jane Street Group LLC lifted its position in Hesai Group by 11.9% during the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after buying an additional 5,186 shares in the last quarter. Institutional investors own 48.53% of the company’s stock.

Hesai Group Company Profile

Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.